In the Long Run, Competitive Firms Want to Exit Industries

question 122

Multiple Choice

In the long run, competitive firms want to exit industries in which:

• A) P = MC.
• B) P > MC.
• C) P > AC.
• D) P < AC.

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Definitions:

Friendships

Social bonds between individuals based on mutual affection, trust, and support.

Older Adults

Individuals typically aged 65 years and over, often experiencing various physical, social, and psychological changes.

Long-Term Friends

Individuals with whom one maintains a friendship over many years, often characterized by deep understanding and mutual support.

Meaningful

Having significance, purpose, or value, often in a way that is personally or socially fulfilling.